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Date
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April 29, 2021 to May 03, 2021
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Price range
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Rs. 99 to Rs. 100
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Minimum order quantity
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1,100
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(D)RHP
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View
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Infrastructure investment trusts (InvITs) have been steadily gaining popularity through the years. Many existing companies are choosing to go through this route for raising funds from the public since it involves reduced regulatory compliance. The latest InvIT to have come up with a new IPO is PowerGrid. Here are some of the key PowerGrid Infrastructure Investment Trust IPO details.
About the company
The PowerGrid Infrastructure Investment Trust was established as recently as on January 7, 2021 by the Power Grid Corporation of India Limited (PGCIL). The trust was established by PGCIL for the purpose of constructing, maintaining, owning, and operating assets involved in power transmission.
PGCIL has appointed one of its wholly-owned subsidiary companies - PowerGrid Unchahar Transmission Limited as the investment manager for the InvIT. The investment manager is tasked with the responsibility of managing the trust, making investment decisions, and managing the assets.
All of the major credit rating agencies, namely CARE Ratings Limited, CRISIL Ratings Limited, and ICRA Limited have all given the PowerGrid Infrastructure Investment Trust a AAA rating.
- PowerGrid Infrastructure Investment Trust IPO details
Let’s now take a look at some of the key details of the upcoming IPO such as the PowerGrid Infrastructure Investment Trust IPO date and the PowerGrid Infrastructure Investment Trust IPO share price, among others.
- PowerGrid Infrastructure Investment Trust IPO date
The latest IPO issue from PowerGrid Infrastructure Investment Trust has been slated to open on April 29, 2021 and would then come to a close on May 03, 2021.
- PowerGrid Infrastructure Investment Trust IPO issue size
The company, through this new IPO issue, has decided to put up a total of Rs. 7,734.99 crores worth of shares for sale to the public. The upcoming IPO consists of a fresh issue of shares worth Rs. 4,993.48 crores. The remaining Rs. 2,741.51 crores is slated to come through an Offer for Sale (OFS) component.
- PowerGrid Infrastructure Investment Trust IPO share price
Since the latest IPO from PowerGrid Infrastructure Investment Trust is a book built issue, the company has set a nominal price band of Rs. 99 to Rs. 100 per equity share.
- PowerGrid Infrastructure Investment Trust IPO listing
The shares of PowerGrid Infrastructure Investment Trust would be listed on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). The company has even obtained the relevant in-principle approvals from both the stock exchanges as well.
Conclusion:
If you want to invest in the PowerGrid Infrastructure Investment Trust IPO, all you need to do is open a demat account with Motilal Oswal. You can then begin investing in any IPO and in the stock market, as per your investment plan.
Before commencing online trading, always remember to open a Demat Account and Trading Account with a trusted and reliable financial partner.
If you already have an existing account, you can start your online trading and invest in the upcoming IPO's.
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